The Good, The Bad, & The Ugly – Week of 7/1/2013

Good

One side effect of the Snowden leaks and the revelations of the U.S. spying on it’s supposed “allies” might be the collapse or at least the weakening of two “Free-Trade” Agreements (which really just give aways to multinational corporations), the Trans Pacific Partnership and the US-European “Free Trade” Agreement. Yves Smith at Naked Capitalism July 1, 2013.

Bad

The FED is “clear as mud” as to when the too-big-to-fail banks will have to comply with capital standards setting a hazy “phase in” stage starting January 2014 which may not ever even happen. Pam Martens at Wall Street on Parade July 3, 2013.

Ugly

The FED gives Goldman a huge concession as it gives them two more years (July 12, 2015) to comply with a requirement to divest part of its derivatives business to a separately capitalized unit. Ronald D. Oral at Marketwatch (Wall Street Journal) July 3, 2013.

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